They say that what goes up must come down and vice-versa and with economic downturns cyclical by nature, we can safely say we are moving out of the recession and onto better times. Whilst most franchisors saw the signs of the recession looming and made the necessary contingency plans to consolidate, cut back and re-assess, so the time has come to make plans for the upturn. South Africa in particular can look forward to a promising 2010 given the impact of the FIFA Soccer World Cup and the inevitable spotlight on the African continent.
Planning for a new growth phase is even more important than planning for the downturn and not taking the necessary steps for the upturn could cost companies their place in the marketplace. Having a game plan in place for future growth, re-establishing a new value proposition and being one step ahead of the competition is crucial to future success. The recession has shifted business and consumer goalposts. What was acceptable before the recession may not apply in the future and consumer’s spending habits may well have changed permanently.
FASA has taken the lead during these tough economic times to give its members a series of free workshops and seminars that will help them get through the tough times and equip them with the tools in preparation for the upturn. It partnered with its affiliate members to bring relevant subjects to the fore – from motivating franchisors to catch the next wave of 2010 and beyond with FNB and FASA’s x2in5 initiative with a look at expansion possibilities both in South Africa and into Africa - to giving FASA members a free full day legal seminar sponsored by Eversheds that looked at the nitty-gritty’s of conforming to the Consumer Protection Bill. With the Franchisee 800 Club gaining momentum a second franchisee networking breakfast forum together with Standard Bank and Franchize Directions looked at understanding the franchisee lifecycle. Read more about these seminars alongside.
nding habits may well have changed permanently.